Cisco Systems seems old and ailing? Just like the other horsemen of old: Dell, Microsoft, and Intel. Last quarter was a problem, but now John Chambers says the company is going through a transition. It may take a few quarters for a company this size to turn around if they are lucky. Akamai is the other network disaster post earnings after beating on top and bottom line. Selling the network and cloud computing group on the day of earning seems to be the money making strategy.
Markets at their high rarely go straight down. Dow demonstrated that resilience with a last minute burst into the green to keep its 8 day winning streak alive. We have seldom gone above 8 days without seeing a drop in the Dow. No matter how bullish one feels, we have to be on the look out for another day of potential downside. The Bernanke grilling this morning regarding QE2 and inflation is not confidence inspiring, but I bet the dip buyers will be ready on any further weakness as the new POMO schedule will be announce Feb 10th at 2pm est.
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